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-
Sainsbury’s launches seasonings shuttle to spice up mealtimes for struggling UK households
New research from Sainsbury’s reveals that half of those struggling to afford food have lost the joy in mealtimes, saying they’re no longer excited by food... View Article -
Why this M&S turnaround should finally stick
via ft.comA new stores format and better supply chain have helped the retailer achieve consistent sales growth -
Very Group cuts losses despite ‘ongoing tough conditions’ in market
The Very Group reduced its losses in its third quarter, as it claimed it managed to deliver a “resilient performance despite market pressures”.
The online department store group pulled in a £2.1m pre-tax loss for the 39 weeks to 30 March, from an £11.7m profit the same time last year. Pre-exceptional EBITDA hit £197.4m, an increase of 3.8% year on year.
Group sales dipped 0.8% to £1.667bn, which it attributed to “ongoing tough conditions in the mark -
Marks & Spencer boss hails ‘growth story’ as annual profits rise 41%
via theguardian.comPre-tax profits increase to £672.5m and retailer says it will reduce costs further as part of five-year planBusiness live – latest updatesThe boss of Marks & Spencer says he is hopeful of a “growth story for years to come” after the revitalised retailer won over 1 million more shoppers to boost profits by 41%.Stuart Machin, the chief executive, said it was “the beginnings of a new M&S” and there was “wind in our sails and confidence that our plan -
Peloton rolls out rental service amid post-pandemic slowdown
Peloton has launched a rental service for its exercise bikes in a bid to boost its fortunes following a post-pandemic slump in demand.
Consumers can rent an exercise bike for £99 per month, with access to all of its live online classes and back catalogue, The Times reported.
The fitness company said the scheme gives customers an “accessible and convenient way to experience Peloton”.Subscribe to Retail Gazette for free
Sign up here to get the latest news straight into -
John Lewis to hire 300 care experienced workers by 2025
John Lewis Partnership is aiming to hire more than 300 care experienced young people by January 2025 as part of its Building Happier Futures programme.
The department store retailer, which has employed 76 workers so far, said the target forms part of its commitment to providing career opportunities for people with experience of the care system.
The news coincides with the celebration of Foster Care Fortnight, which runs until 26 May by charity The Fostering Network.
In support of the event, -
Biggest US retailers cut prices as inflation hits shoppers
via ft.comAnalysts see Target and Walmart setting a new tone for sector after years of increases -
Superdrug marks 60th anniversary with new range and in-store events
Superdrug is marking its 60th birthday with celebrations taking place throughout this month and June.
The health and beauty retailer will be holding in-store activations alongside the launch of a limited edition birthday range, 60th birthday products from exclusive brands, offers and prices and more.
Superdrug Health & Beauty Card members will be able to bag 60% off own brand and exclusive ranges from today (22 May), while members will earn 600 points on any online purchase over £60 ma -
M&S CEO insists no final payment is owed to Ocado
M&S boss Stuart Machin said it was “committed” to Ocado’s turnaround despite it confirming it had “not seen evidence” for it making a final payment for the online retailer.
The pair have been in dispute since M&S put the final payment for its share in the Ocado Retail joint venture on hold in February after it failed to meet key performance targets.
The retailer said this morning: “Both shareholders have proposed adjustments which are currently be -
M&S CEO insists it is ‘committed’ to Ocado despite ‘no evidence’ for final payment
M&S boss Stuart Machin said it was “committed” to Ocado’s turnaround despite it confirming it had “not seen evidence” for it making a final payment for the online retailer.
The pair have been in dispute since M&S put the final payment for its share in the Ocado Retail joint venture on hold in February after it failed to meet key performance targets.
The retailer said this morning: “Both shareholders have proposed adjustments which are currently be -
Marks and Spencer chief hails ‘beginnings of a new M&S’ as profits soar
via ft.comRetailer pays first dividend since 2019 as turnaround pays off with revival in food and clothing divisions -
Conference review: HR Central
Pressures on the labour market remain incredibly acute in the retail sector but it can be alleviated by a more personalised approach to recruitment and a... View Article -
M&S books highest profit in decade and pays first dividend since 2019
via ft.comRevival in food and clothing divisions boost earnings as turnaround plans start to pay off -
Marks & Spencer plans to step up cost cuts despite 41% jump in annual profits
via theguardian.comPre-tax profits increased to £672.5m but retailer says it will reduce costs further as part of five-year planBusiness live – latest updatesMarks & Spencer has said it will step up cost cuts in the year ahead despite increasing annual profits by a better-than-expected 41%.Stuart Machin, the chief executive of the clothing, homeware and food retailer, said it was “at the beginnings of a new M&S” with “wind in our sails, and confidence that our plan is working& -
Clarks UK managing director and chief product officer depart
Clarks UK and Ireland managing director Bob Neville and chief product officer Victoria Jones have left the business.
The departures come as chief executive Jonathan Ram stepped down last month to “pursue other opportunities”, Drapers reported.
Neville joined Clarks last July to head up its UK and Ireland operations after spending the last 30 years based in Hong Kong.Subscribe to Retail Gazette for free
Sign up here to get the latest news straight into your inbox each morni -
Q&A: Paul Ridings, Global Director of Growth for People at OneAdvanced
We are one of the UK’s leading software companies, our mission is to power the world of work. We help the likes of Harvey Nichols, Specsavers,... View Article -
Music Magpie trading broadly in line with expectations
Music Magpie, the refurbished consumer technology specialist, has said its second quarter trading has been broadly in line with expectations as it remains in takeover talks.... View Article -
M&S posts strong uplift in sales and profit as it benefits from “reshape” strategy
Marks & Spencer has posted a jump in full year sales and profit as it declared that its Reshape for Growth strategy is working. In the... View Article -
M&S profits skyrocket as reshaping strategy pays off
M&S profits have skyrocketed 58% as its strategy to reshape the business delivers strong sales growth across its clothing and food divisions.
The high street retailer insisted it was confident of further progress in its new financial year and that the positive results reflected “the beginnings of a new M&S”.
After two decades of unsuccessful turnarounds, the retailer’s latest attempt is finally bearing fruit thanks to a major investment programme to improve the quality -
M&S books highest profit in decade as turnaround plan bears fruit
via ft.comRevival in food and clothing divisions boost earnings -
Fenwick to bring Michelin-starred restaurant Hjem to flagship Newcastle store
The Fenwick department store in Newcastle will play host to a pop-up by the Michelin-starred restaurant Hjem from 31 May to 4 August. The pop-up will... View Article -
THG activist shareholder Kelso to vote against chairman
THG’s activist shareholder Kelso is to vote against the reappointment of Lord Charles Allen as chair in the latest drive to address the group’s weak share price.
The investor told the stock market on Tuesday that it was “disappointed” by THG’s lack of progress in moving its listing to the premium segment of the London market and in separating some of its divisions.
The shareholder said it believed THG’s shares were trading at a “significant discount&rdqu -
Unibail-Rodamco Westfield announces new and renewed partnerships with Youth Zones
Unibail-Rodamco-Westfield has embarked on a new three-year partnership with Croydon Youth Zone, Legacy as part of its longstanding relationship with national youth charity, OnSide. It has... View Article -
Q&A: Danielle Sones, Managing Director, ABa Quality Monitoring Ltd
ABa is a leading UK CX measurement agency, with a diverse client portfolio, predominantly working within Retail, Leisure & Hospitality and Financial Services. Danielle has more... View Article -
US retailers trim prices as shoppers show signs of inflation fatigue
via ft.comAnalysts see Target and Walmart setting a new tone for the sector after years of increases -
Government tells Britons to stockpile as part of emergency planning
via ft.comAs campaign urges households to stock up on tinned food and batteries, retailers warn against panic buying -
Co-op unveils ‘ambitious’ new sustainability targets
Co-op has unveiled “ambitious” new sustainability targets aligned to its credit facilities.
The new targets include reducing carbon emissions across its supply chain, with the aim of having two thirds of suppliers enrolled in the Science Based Targets initiatives by the end of 2025, up from 37% currently.
It will also target a 650 tonnes reduction in food waste per year, and will double the annual funding to Co-op Levy Share, investing thousands in apprenticeships.
The goals align wi -
Online car dealer Cazoo collapses into administration putting 200 jobs at risk
via theguardian.comUK-based used-car website once valued at £6bn is now looking for a buyer for its remaining assetsThe online car dealer Cazoo which was once valued at $8bn (£6.3bn) has collapsed into administration, putting 200 jobs at risk.Administrators at Teneo have been appointed to the business, which was founded by Alex Chesterman, the serial entrepreneur who also launched property site Zoopla and Netflix forerunner LoveFilm. Continue reading... -
Chanel to increase investment in retail sites as brands vie for key locations
via ft.comFashion house also plans more acquisitions to further integrate its supply chain -
Chanel targets property investments as luxury brands vie for prime sites
via ft.comFashion house also plans to continue to make acquisitions to further integrate its supply chain
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